1051 Meadow Lake Dr - Apartments FOR SALE


Vista, CA 92084
$3,175,000 USD
858-964-8087
1051 Meadow Lake Dr, Vista, CA for Sale
$3,175,000 USD
Apartments - FOR SALE
1/15
null | 5.33% Cap Rate

1051 Meadow Lake Dr
Vista, CA 92084


HIGHLIGHTS

  • High 5.33% Cap Rate (6.07% Proforma)
  • Large 2 Bedroom/2 Bath Units - 1,116 sq.ft each
  • Garages for each and every unit
  • (2) APNs qualifies for Residential or Commercial Financing
  • Very low cost per square foot
  • Prime location near Brengle Terrace Park

OVERVIEW

DP Properties is pleased to offer for sale the opportunity to acquire the Meadowlake Apartment Homes, an 8 unit apartment community in Vista CA. Built on 2 parcels, each 4 plex consists of all large 1,116 sq.ft. Two Bedroom/Two Bath units. Each apartment home has a garage, an additional dedicated parking space, and back patio. Three (3) of the units have been fully renovated and have achieved market rent. The other five (5) units are poised for rehabilitation for value-add or keep as they are with continued rent growth. These feel like small homes rather than apartments. Draught resistant landscape keeps the expenses low. Laundry room provides additional income as well. High cashflow property in an excellent location!

FOR SALE DETAILS

PRICE

$3,175,000 USD

PRICE/SF

$356 USD /SF

# OF UNITS

8

PRICE/UNIT

$396,875

CAP RATE

5.33%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Meadowlake Apartment Homes - High Cap Rate

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1968

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.63 AC

LAND SF

27,443 SF

ZONING

RM20, Vista

APN/PARCEL ID

176-030-30,176-030-31

ASK ABOUT THIS PROPERTY

Dave PlutnerDP Properties Real Estate Investment BrokerageMore Info
858-964-8087

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Dave PlutnerDP Properties Real Estate Investment BrokerageMore Info
858-964-8087

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.